Africa Center for Retirement Research and Friedrich Ebert Stiftung Engage Pension Industry Stakeholders on its Latest Research Project
The Africa Center for Retirement Research (ACRR) presented the findings of its latest pension policy research paper to stakeholders of the pension industry in Ghana.
The stakeholders’ engagement session brought together International Development Agencies, the Regulator, Social Security Administrators and Trustees (public and private), Civil Society Organizations, Research Organizations, the Employers Association, the Organized Labor, the Ministries (Finance, Labor, Gender and Social Protection), etc.
The research project was sponsored by the Friedrich Ebert Stiftung (FES), Ghana, and titled ‘Bridging the Increasing Socioeconomic Inequalities Amongst Ghanaian Pensioners, and Improving the Medium to Long-Term Financial Sustainability of the First Tier (SSNIT) Scheme – The Role of the Pension Indexation Policy’ The research proposed an alternative pension indexation model for consideration by stakeholders, considering that
- The current basis of indexation has the shortcoming of increasing the economic gap between the rich and the poor (income inequalities), leading to high poverty incidence.
- The existing method is increasing the financial pressure on the scheme (undermining financial sustainability efforts), as evident in recent actuarial valuation reports.